Following a significant drop in stock price and substantial financial losses, Devin Nunes stated it was the “appropriate time” for new leadership with relevant experience to guide Trump Media through its current transition. The company’s revenue for the previous year was a mere $3.7 million, contrasted with a net loss of $712 million. Despite ongoing considerations, including a potential spin-off of Truth Social through a merger with Texas Ventures Acquisition III Corp., the company’s future remains uncertain.
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The Trump business behind Truth Social is replacing Devin Nunes, a former congressman and strong supporter of the president, as CEO of the social media platform amidst a significant stock collapse that has erased billions in investor value. Digital media executive Kevin McGurn will temporarily assume leadership of Trump Media & Technology, which was established as a “free speech” alternative to major social media sites. Despite frequent use by the former president for political announcements, the platform has struggled to attract a wide audience and has incurred substantial financial losses since going public.
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Trump Media CEO Nunes loses defamation lawsuit over Rachel Maddow show, and it’s hard not to feel a sense of…well, satisfaction, to be frank. The news seems to have been greeted with a collective sigh of relief, as if the universe had finally righted itself. This isn’t just about a legal loss; it’s a symbolic one. It’s a resounding “nope” to the relentless pursuit of silencing voices through lawsuits, a tactic that, frankly, has become a bit tiresome. The core of the matter? Nunes, the CEO of Trump Media, sued Rachel Maddow over a segment.
Devin Nunes is claiming Maddow knowingly lied about something regarding him.… Continue reading
President Trump’s 2024 financial disclosure, a 234-page document, reveals substantial income from diverse sources. A significant portion stems from his $57 million stake in World Liberty Financial, a cryptocurrency platform co-founded with his sons. Royalty payments from merchandise bearing his name and likeness, totaling millions, also contributed substantially to his earnings. The report further details assets including substantial holdings in Trump Media and Technology Group, alongside liabilities such as credit card debt and payments to E. Jean Carroll. This contrasts sharply with the significantly shorter disclosures filed by his predecessors.
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Trump is bleeding hundreds of millions of dollars, and it’s largely due to the escalating conflict between him and Elon Musk. The fallout from their public feud has significantly impacted Trump’s financial holdings, particularly in his media company and cryptocurrency ventures.
Trump Media & Technology Group stock experienced an eight percent drop, translating to an approximate loss of $202 million for Trump. This decline is a direct consequence of the negative publicity and uncertainty surrounding the ongoing feud, undermining investor confidence in the company’s future prospects.
Adding to his financial woes is the substantial decrease in the value of his MAGA-themed cryptocurrency.… Continue reading
Attorney General Pam Bondi sold between $1 million and $5 million in Trump Media & Technology Group shares on April 2nd, the same day President Trump announced sweeping tariffs. This occurred on “Liberation Day,” when tariffs caused market drops, followed by a 90-day pause. While there is no suggestion of wrongdoing, the timing of the sale, falling within Bondi’s 90-day window to divest from Trump Media per her ethics agreement, and subsequent stock price fluctuations warrant attention. Bondi’s actions are subject to scrutiny, alongside other aspects of her career, including her past lobbying work for Qatar.
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Attorney General Pam Bondi sold between $1 million and $5 million in Trump Media shares on April 2nd, the same day President Trump announced new tariffs that caused a market downturn. Bondi’s disclosure forms don’t specify the exact time of sale, but the transactions occurred before or after the market closed following Trump’s press conference. While the legality of the sale is unclear, it raises questions regarding potential insider trading, given Bondi’s prior work with Trump Media. The Justice Department has yet to comment.
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Recent SEC filings reveal a significant increase in institutional investment in Trump Media and Technology Group (TMTG), with some firms adding hundreds of millions of dollars to their holdings. This surge in investment, despite TMTG’s substantial losses ($400m in 2024), raises concerns about potential quid pro quo arrangements given the investors’ connections to Trump and Republican politics. Critics, including Accountable.us, suggest these investments constitute a form of tribute aimed at currying favor with the President. Examples include Charles Schwab Investment Management and Hancock Prospecting, both significantly increasing their TMTG stakes.
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On February 14, 2025, President Trump established the Energy Dominance Council and issued an executive order barring federal funding to schools with COVID-19 vaccine mandates. Trump Media & Technology Group (TMTG), operator of Truth Social, reported a net loss of $400.9 million for 2024, despite its stock nearly doubling in value following the presidential election. The company attributes the loss to merger-related legal fees and reduced advertising revenue. TMTG, which boasts significant cash reserves, plans to explore future mergers and acquisitions to diversify its holdings.
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John Q. Hosedrinker 
Matt Underwood